Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

Commercial Leasing Law & StrategyFeaturesLandlord Tenant LawLitigation

Goodbye 'Yellowstone' Road

By David B. Saxe and Danielle C. Lesser
May 01, 2018

 

Yellowstone injunctions have long constituted important protection for commercial tenants in New York. Originating with the 1968 Court of Appeals decision in First Nat'l Stores v. Yellowstone Shopping Ctr, 21 N.Y.2d 630 (1968), New York courts permit a commercial tenant who has been served with a notice to cure or a notice of a default from its landlord to obtain a stay tolling the cure period and enjoining the landlord from terminating the lease or commencing a summary proceeding. See, e.g., Graubard Mollen Horowitz Pomeranz & Shapiro v. 600 Third Ave. Assocs., 93 N.Y.2d 508, 514 (1999). A Yellowstone injunction thus preserves the status quo while the tenant challenges the validity of the landlord's actions. Yellowstone injunctions are “routinely” granted and courts “accept[] far less than the normal showing required for preliminary injunctive relief.” Post v. 120 E. End Ave., 62 N.Y.2d 19, 25 (1984). Yellowstone injunctions are creatures of case law and not statute or regulation.

This premium content is locked for Entertainment Law & Finance subscribers only

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473

Read These Next
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office Image

A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.

Bit Parts Image

Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights

Risks of “Baseball Arbitration” in Resolving Real Estate Disputes Image

“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.

Disconnect Between In-House and Outside Counsel Image

'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.

Bankruptcy Sales: Finding a Diamond In the Rough Image

There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.